Abu Dhabi to spend US$4.3 billion on development projects

Thursday, 26 September 2013 12:40

A budget of US$2.01bn has been approved by the Abu Dhabi government towards developing roads that will link the city with Saudi Arabia and Dubai. (Image source: Sarah Ackerman/Flickr)Abu Dhabi's government has approved a US$4.3bn budget for infrastructure and social welfare development projects

According to a Reuters news report, US$2.01bn has been allocated towards developing roads that will link the city of Abu Dhabi with Saudi Arabia and Dubai. A total of US$1.17bn will go towards building a hospital in the city of Al Ain.

Other allocations will focus on developing the Emirate's electricity grid and waste water treatment facilities, along with providing housing loans to 1,554 local citizens.

Abu Dhabi will invest billions of dollars in industry, tourism and infrastructure to diversify its economy away from oil.

Abu Dhabi also recently announced plans to introduce electric buses to the Emirate.